Free tool
Compare loan offers side by side
Enter two or more offers and see the monthly payment, total interest, and total cost including fees — so you can compare the real cost, not just the headline rate or payment.
Loan offers
Offer A · lowest total cost
- Monthly payment
- $400.76
- Total interest
- $4,046
Total interest + fees: $4,046
Total you'd pay (incl. fees): $24,046
Offer B
- Monthly payment
- $395.08
- Total interest
- $3,705
Total interest + fees: $4,305
Total you'd pay (incl. fees): $24,305
Offer A has the lowest total cost (interest plus fees) at $4,046. Remember a lower monthly payment can still cost more overall if the term is longer — compare the total, not just the payment.
Compare the total, not the payment
The most common mistake is choosing the loan with the lowest monthly payment. A smaller payment often comes from a longer term, which can mean far more interest over the life of the loan. This tool totals interest and fees so you compare what each offer truly costs.
Realistic rates
Not sure what rate to expect? Our current rates page shows authoritative benchmark averages. For specific loan types, try the auto loan, mortgage, and business loan calculators.
Frequently asked questions
How should I compare two loan offers?
Compare the total cost — interest plus fees — over the same time period, not just the monthly payment. A lower monthly payment can hide a longer term and a higher total cost.
Why does this tool add fees to the total cost?
Upfront fees are a real part of what a loan costs you. Adding them to total interest gives a fairer comparison than looking at the interest rate alone, similar to how APR works.
Does a lower interest rate always mean a cheaper loan?
Not always. A loan with a slightly lower rate but high fees, or a longer term, can cost more overall. This tool shows the total so you can see the real difference.